EMI CALCULATOR

Education Loan Amount (Rs)
2500000
|
1 Lakh
|
25 Lakhs
|
50 Lakhs
|
75 Lakhs
|
1 Crore
Interest Rate (% per annum)
12.5
|
5
|
7.5
|
10
|
12.5
|
15
|
17.5
|
20
Loan Tenure
20
|
1
|
5
|
10
|
15
|
20
|
25
|
30
Created with Highstock 2.1.5Principal AmountInterest Amount

Monthly Payment (EMI)

Rs. 28,404

Total Interest Payable

Rs. 43,16,960

Total Payment (Principal + Interest)

Rs. 68,16,960

Schedule showing EMI payments starting from
Created with Highstock 2.1.5YearBalanceEMI Payment / YearEquated Monthly Installment (EMI) ChartPrincipalInterestBalance2025202620272028202920302031203220332034203520362037203820392040204120422043204420450M1M2M3M4M5M0k100k200k300k400k500k
 YearPrincipal (A)Interest (B)Total Payment (A + B)Balance
20252025Rs. 14,548Rs. 1,55,876Rs. 1,70,424Rs. 24,85,452
 JulRs. 2,362Rs. 26,042Rs. 28,404Rs. 24,97,638
 AugRs. 2,387Rs. 26,017Rs. 28,404Rs. 24,95,251
 SepRs. 2,412Rs. 25,992Rs. 28,404Rs. 24,92,839
 OctRs. 2,437Rs. 25,967Rs. 28,404Rs. 24,90,402
 NovRs. 2,462Rs. 25,942Rs. 28,404Rs. 24,87,940
 DecRs. 2,488Rs. 25,916Rs. 28,404Rs. 24,85,452
20262026Rs. 31,956Rs. 3,08,892Rs. 3,40,848Rs. 24,53,496
 JanRs. 2,514Rs. 25,890Rs. 28,404Rs. 24,82,938
 FebRs. 2,540Rs. 25,864Rs. 28,404Rs. 24,80,398
 MarRs. 2,567Rs. 25,837Rs. 28,404Rs. 24,77,831
 AprRs. 2,593Rs. 25,811Rs. 28,404Rs. 24,75,238
 MayRs. 2,620Rs. 25,784Rs. 28,404Rs. 24,72,618
 JunRs. 2,648Rs. 25,756Rs. 28,404Rs. 24,69,970
 JulRs. 2,675Rs. 25,729Rs. 28,404Rs. 24,67,295
 AugRs. 2,703Rs. 25,701Rs. 28,404Rs. 24,64,592
 SepRs. 2,731Rs. 25,673Rs. 28,404Rs. 24,61,861
 OctRs. 2,760Rs. 25,644Rs. 28,404Rs. 24,59,101
 NovRs. 2,788Rs. 25,616Rs. 28,404Rs. 24,56,313
 DecRs. 2,817Rs. 25,587Rs. 28,404Rs. 24,53,496
20272027Rs. 36,187Rs. 3,04,661Rs. 3,40,848Rs. 24,17,309
 JanRs. 2,847Rs. 25,557Rs. 28,404Rs. 24,50,649
 FebRs. 2,876Rs. 25,528Rs. 28,404Rs. 24,47,773
 MarRs. 2,906Rs. 25,498Rs. 28,404Rs. 24,44,867
 AprRs. 2,937Rs. 25,467Rs. 28,404Rs. 24,41,930
 MayRs. 2,967Rs. 25,437Rs. 28,404Rs. 24,38,963
 JunRs. 2,998Rs. 25,406Rs. 28,404Rs. 24,35,965
 JulRs. 3,029Rs. 25,375Rs. 28,404Rs. 24,32,936
 AugRs. 3,061Rs. 25,343Rs. 28,404Rs. 24,29,875
 SepRs. 3,093Rs. 25,311Rs. 28,404Rs. 24,26,782
 OctRs. 3,125Rs. 25,279Rs. 28,404Rs. 24,23,657
 NovRs. 3,158Rs. 25,246Rs. 28,404Rs. 24,20,499
 DecRs. 3,190Rs. 25,214Rs. 28,404Rs. 24,17,309
20282028Rs. 40,978Rs. 2,99,870Rs. 3,40,848Rs. 23,76,331
 JanRs. 3,224Rs. 25,180Rs. 28,404Rs. 24,14,085
 FebRs. 3,257Rs. 25,147Rs. 28,404Rs. 24,10,828
 MarRs. 3,291Rs. 25,113Rs. 28,404Rs. 24,07,537
 AprRs. 3,325Rs. 25,079Rs. 28,404Rs. 24,04,212
 MayRs. 3,360Rs. 25,044Rs. 28,404Rs. 24,00,852
 JunRs. 3,395Rs. 25,009Rs. 28,404Rs. 23,97,457
 JulRs. 3,430Rs. 24,974Rs. 28,404Rs. 23,94,027
 AugRs. 3,466Rs. 24,938Rs. 28,404Rs. 23,90,561
 SepRs. 3,502Rs. 24,902Rs. 28,404Rs. 23,87,059
 OctRs. 3,539Rs. 24,865Rs. 28,404Rs. 23,83,520
 NovRs. 3,576Rs. 24,828Rs. 28,404Rs. 23,79,944
 DecRs. 3,613Rs. 24,791Rs. 28,404Rs. 23,76,331
20292029Rs. 46,406Rs. 2,94,442Rs. 3,40,848Rs. 23,29,925
 JanRs. 3,651Rs. 24,753Rs. 28,404Rs. 23,72,680
 FebRs. 3,689Rs. 24,715Rs. 28,404Rs. 23,68,991
 MarRs. 3,727Rs. 24,677Rs. 28,404Rs. 23,65,264
 AprRs. 3,766Rs. 24,638Rs. 28,404Rs. 23,61,498
 MayRs. 3,805Rs. 24,599Rs. 28,404Rs. 23,57,693
 JunRs. 3,845Rs. 24,559Rs. 28,404Rs. 23,53,848
 JulRs. 3,885Rs. 24,519Rs. 28,404Rs. 23,49,963
 AugRs. 3,925Rs. 24,479Rs. 28,404Rs. 23,46,038
 SepRs. 3,966Rs. 24,438Rs. 28,404Rs. 23,42,072
 OctRs. 4,007Rs. 24,397Rs. 28,404Rs. 23,38,065
 NovRs. 4,049Rs. 24,355Rs. 28,404Rs. 23,34,016
 DecRs. 4,091Rs. 24,313Rs. 28,404Rs. 23,29,925
20302030Rs. 52,550Rs. 2,88,298Rs. 3,40,848Rs. 22,77,375
 JanRs. 4,134Rs. 24,270Rs. 28,404Rs. 23,25,791
 FebRs. 4,177Rs. 24,227Rs. 28,404Rs. 23,21,614
 MarRs. 4,221Rs. 24,183Rs. 28,404Rs. 23,17,393
 AprRs. 4,264Rs. 24,140Rs. 28,404Rs. 23,13,129
 MayRs. 4,309Rs. 24,095Rs. 28,404Rs. 23,08,820
 JunRs. 4,354Rs. 24,050Rs. 28,404Rs. 23,04,466
 JulRs. 4,399Rs. 24,005Rs. 28,404Rs. 23,00,067
 AugRs. 4,445Rs. 23,959Rs. 28,404Rs. 22,95,622
 SepRs. 4,491Rs. 23,913Rs. 28,404Rs. 22,91,131
 OctRs. 4,538Rs. 23,866Rs. 28,404Rs. 22,86,593
 NovRs. 4,585Rs. 23,819Rs. 28,404Rs. 22,82,008
 DecRs. 4,633Rs. 23,771Rs. 28,404Rs. 22,77,375
20312031Rs. 59,508Rs. 2,81,340Rs. 3,40,848Rs. 22,17,867
 JanRs. 4,681Rs. 23,723Rs. 28,404Rs. 22,72,694
 FebRs. 4,730Rs. 23,674Rs. 28,404Rs. 22,67,964
 MarRs. 4,779Rs. 23,625Rs. 28,404Rs. 22,63,185
 AprRs. 4,829Rs. 23,575Rs. 28,404Rs. 22,58,356
 MayRs. 4,879Rs. 23,525Rs. 28,404Rs. 22,53,477
 JunRs. 4,930Rs. 23,474Rs. 28,404Rs. 22,48,547
 JulRs. 4,982Rs. 23,422Rs. 28,404Rs. 22,43,565
 AugRs. 5,034Rs. 23,370Rs. 28,404Rs. 22,38,531
 SepRs. 5,086Rs. 23,318Rs. 28,404Rs. 22,33,445
 OctRs. 5,139Rs. 23,265Rs. 28,404Rs. 22,28,306
 NovRs. 5,192Rs. 23,212Rs. 28,404Rs. 22,23,114
 DecRs. 5,247Rs. 23,157Rs. 28,404Rs. 22,17,867
20322032Rs. 67,387Rs. 2,73,461Rs. 3,40,848Rs. 21,50,480
 JanRs. 5,301Rs. 23,103Rs. 28,404Rs. 22,12,566
 FebRs. 5,356Rs. 23,048Rs. 28,404Rs. 22,07,210
 MarRs. 5,412Rs. 22,992Rs. 28,404Rs. 22,01,798
 AprRs. 5,469Rs. 22,935Rs. 28,404Rs. 21,96,329
 MayRs. 5,526Rs. 22,878Rs. 28,404Rs. 21,90,803
 JunRs. 5,583Rs. 22,821Rs. 28,404Rs. 21,85,220
 JulRs. 5,641Rs. 22,763Rs. 28,404Rs. 21,79,579
 AugRs. 5,700Rs. 22,704Rs. 28,404Rs. 21,73,879
 SepRs. 5,759Rs. 22,645Rs. 28,404Rs. 21,68,120
 OctRs. 5,819Rs. 22,585Rs. 28,404Rs. 21,62,301
 NovRs. 5,880Rs. 22,524Rs. 28,404Rs. 21,56,421
 DecRs. 5,941Rs. 22,463Rs. 28,404Rs. 21,50,480
20332033Rs. 76,312Rs. 2,64,536Rs. 3,40,848Rs. 20,74,168
 JanRs. 6,003Rs. 22,401Rs. 28,404Rs. 21,44,477
 FebRs. 6,066Rs. 22,338Rs. 28,404Rs. 21,38,411
 MarRs. 6,129Rs. 22,275Rs. 28,404Rs. 21,32,282
 AprRs. 6,193Rs. 22,211Rs. 28,404Rs. 21,26,089
 MayRs. 6,257Rs. 22,147Rs. 28,404Rs. 21,19,832
 JunRs. 6,322Rs. 22,082Rs. 28,404Rs. 21,13,510
 JulRs. 6,388Rs. 22,016Rs. 28,404Rs. 21,07,122
 AugRs. 6,455Rs. 21,949Rs. 28,404Rs. 21,00,667
 SepRs. 6,522Rs. 21,882Rs. 28,404Rs. 20,94,145
 OctRs. 6,590Rs. 21,814Rs. 28,404Rs. 20,87,555
 NovRs. 6,659Rs. 21,745Rs. 28,404Rs. 20,80,896
 DecRs. 6,728Rs. 21,676Rs. 28,404Rs. 20,74,168
20342034Rs. 86,418Rs. 2,54,430Rs. 3,40,848Rs. 19,87,750
 JanRs. 6,798Rs. 21,606Rs. 28,404Rs. 20,67,370
 FebRs. 6,869Rs. 21,535Rs. 28,404Rs. 20,60,501
 MarRs. 6,940Rs. 21,464Rs. 28,404Rs. 20,53,561
 AprRs. 7,013Rs. 21,391Rs. 28,404Rs. 20,46,548
 MayRs. 7,086Rs. 21,318Rs. 28,404Rs. 20,39,462
 JunRs. 7,160Rs. 21,244Rs. 28,404Rs. 20,32,302
 JulRs. 7,234Rs. 21,170Rs. 28,404Rs. 20,25,068
 AugRs. 7,310Rs. 21,094Rs. 28,404Rs. 20,17,758
 SepRs. 7,386Rs. 21,018Rs. 28,404Rs. 20,10,372
 OctRs. 7,463Rs. 20,941Rs. 28,404Rs. 20,02,909
 NovRs. 7,540Rs. 20,864Rs. 28,404Rs. 19,95,369
 DecRs. 7,619Rs. 20,785Rs. 28,404Rs. 19,87,750
20352035Rs. 97,859Rs. 2,42,989Rs. 3,40,848Rs. 18,89,891
 JanRs. 7,698Rs. 20,706Rs. 28,404Rs. 19,80,052
 FebRs. 7,778Rs. 20,626Rs. 28,404Rs. 19,72,274
 MarRs. 7,859Rs. 20,545Rs. 28,404Rs. 19,64,415
 AprRs. 7,941Rs. 20,463Rs. 28,404Rs. 19,56,474
 MayRs. 8,024Rs. 20,380Rs. 28,404Rs. 19,48,450
 JunRs. 8,108Rs. 20,296Rs. 28,404Rs. 19,40,342
 JulRs. 8,192Rs. 20,212Rs. 28,404Rs. 19,32,150
 AugRs. 8,277Rs. 20,127Rs. 28,404Rs. 19,23,873
 SepRs. 8,364Rs. 20,040Rs. 28,404Rs. 19,15,509
 OctRs. 8,451Rs. 19,953Rs. 28,404Rs. 19,07,058
 NovRs. 8,539Rs. 19,865Rs. 28,404Rs. 18,98,519
 DecRs. 8,628Rs. 19,776Rs. 28,404Rs. 18,89,891
20362036Rs. 1,10,818Rs. 2,30,030Rs. 3,40,848Rs. 17,79,073
 JanRs. 8,718Rs. 19,686Rs. 28,404Rs. 18,81,173
 FebRs. 8,808Rs. 19,596Rs. 28,404Rs. 18,72,365
 MarRs. 8,900Rs. 19,504Rs. 28,404Rs. 18,63,465
 AprRs. 8,993Rs. 19,411Rs. 28,404Rs. 18,54,472
 MayRs. 9,087Rs. 19,317Rs. 28,404Rs. 18,45,385
 JunRs. 9,181Rs. 19,223Rs. 28,404Rs. 18,36,204
 JulRs. 9,277Rs. 19,127Rs. 28,404Rs. 18,26,927
 AugRs. 9,374Rs. 19,030Rs. 28,404Rs. 18,17,553
 SepRs. 9,471Rs. 18,933Rs. 28,404Rs. 18,08,082
 OctRs. 9,570Rs. 18,834Rs. 28,404Rs. 17,98,512
 NovRs. 9,669Rs. 18,735Rs. 28,404Rs. 17,88,843
 DecRs. 9,770Rs. 18,634Rs. 28,404Rs. 17,79,073
20372037Rs. 1,25,493Rs. 2,15,355Rs. 3,40,848Rs. 16,53,580
 JanRs. 9,872Rs. 18,532Rs. 28,404Rs. 17,69,201
 FebRs. 9,975Rs. 18,429Rs. 28,404Rs. 17,59,226
 MarRs. 10,079Rs. 18,325Rs. 28,404Rs. 17,49,147
 AprRs. 10,184Rs. 18,220Rs. 28,404Rs. 17,38,963
 MayRs. 10,290Rs. 18,114Rs. 28,404Rs. 17,28,673
 JunRs. 10,397Rs. 18,007Rs. 28,404Rs. 17,18,276
 JulRs. 10,505Rs. 17,899Rs. 28,404Rs. 17,07,771
 AugRs. 10,615Rs. 17,789Rs. 28,404Rs. 16,97,156
 SepRs. 10,725Rs. 17,679Rs. 28,404Rs. 16,86,431
 OctRs. 10,837Rs. 17,567Rs. 28,404Rs. 16,75,594
 NovRs. 10,950Rs. 17,454Rs. 28,404Rs. 16,64,644
 DecRs. 11,064Rs. 17,340Rs. 28,404Rs. 16,53,580
20382038Rs. 1,42,108Rs. 1,98,740Rs. 3,40,848Rs. 15,11,472
 JanRs. 11,179Rs. 17,225Rs. 28,404Rs. 16,42,401
 FebRs. 11,296Rs. 17,108Rs. 28,404Rs. 16,31,105
 MarRs. 11,413Rs. 16,991Rs. 28,404Rs. 16,19,692
 AprRs. 11,532Rs. 16,872Rs. 28,404Rs. 16,08,160
 MayRs. 11,652Rs. 16,752Rs. 28,404Rs. 15,96,508
 JunRs. 11,774Rs. 16,630Rs. 28,404Rs. 15,84,734
 JulRs. 11,896Rs. 16,508Rs. 28,404Rs. 15,72,838
 AugRs. 12,020Rs. 16,384Rs. 28,404Rs. 15,60,818
 SepRs. 12,145Rs. 16,259Rs. 28,404Rs. 15,48,673
 OctRs. 12,272Rs. 16,132Rs. 28,404Rs. 15,36,401
 NovRs. 12,400Rs. 16,004Rs. 28,404Rs. 15,24,001
 DecRs. 12,529Rs. 15,875Rs. 28,404Rs. 15,11,472
20392039Rs. 1,60,927Rs. 1,79,921Rs. 3,40,848Rs. 13,50,545
 JanRs. 12,659Rs. 15,745Rs. 28,404Rs. 14,98,813
 FebRs. 12,791Rs. 15,613Rs. 28,404Rs. 14,86,022
 MarRs. 12,925Rs. 15,479Rs. 28,404Rs. 14,73,097
 AprRs. 13,059Rs. 15,345Rs. 28,404Rs. 14,60,038
 MayRs. 13,195Rs. 15,209Rs. 28,404Rs. 14,46,843
 JunRs. 13,333Rs. 15,071Rs. 28,404Rs. 14,33,510
 JulRs. 13,472Rs. 14,932Rs. 28,404Rs. 14,20,038
 AugRs. 13,612Rs. 14,792Rs. 28,404Rs. 14,06,426
 SepRs. 13,754Rs. 14,650Rs. 28,404Rs. 13,92,672
 OctRs. 13,897Rs. 14,507Rs. 28,404Rs. 13,78,775
 NovRs. 14,042Rs. 14,362Rs. 28,404Rs. 13,64,733
 DecRs. 14,188Rs. 14,216Rs. 28,404Rs. 13,50,545
20402040Rs. 1,82,235Rs. 1,58,613Rs. 3,40,848Rs. 11,68,310
 JanRs. 14,336Rs. 14,068Rs. 28,404Rs. 13,36,209
 FebRs. 14,485Rs. 13,919Rs. 28,404Rs. 13,21,724
 MarRs. 14,636Rs. 13,768Rs. 28,404Rs. 13,07,088
 AprRs. 14,788Rs. 13,616Rs. 28,404Rs. 12,92,300
 MayRs. 14,943Rs. 13,461Rs. 28,404Rs. 12,77,357
 JunRs. 15,098Rs. 13,306Rs. 28,404Rs. 12,62,259
 JulRs. 15,255Rs. 13,149Rs. 28,404Rs. 12,47,004
 AugRs. 15,414Rs. 12,990Rs. 28,404Rs. 12,31,590
 SepRs. 15,575Rs. 12,829Rs. 28,404Rs. 12,16,015
 OctRs. 15,737Rs. 12,667Rs. 28,404Rs. 12,00,278
 NovRs. 15,901Rs. 12,503Rs. 28,404Rs. 11,84,377
 DecRs. 16,067Rs. 12,337Rs. 28,404Rs. 11,68,310
20412041Rs. 2,06,366Rs. 1,34,482Rs. 3,40,848Rs. 9,61,944
 JanRs. 16,234Rs. 12,170Rs. 28,404Rs. 11,52,076
 FebRs. 16,403Rs. 12,001Rs. 28,404Rs. 11,35,673
 MarRs. 16,574Rs. 11,830Rs. 28,404Rs. 11,19,099
 AprRs. 16,747Rs. 11,657Rs. 28,404Rs. 11,02,352
 MayRs. 16,921Rs. 11,483Rs. 28,404Rs. 10,85,431
 JunRs. 17,097Rs. 11,307Rs. 28,404Rs. 10,68,334
 JulRs. 17,276Rs. 11,128Rs. 28,404Rs. 10,51,058
 AugRs. 17,455Rs. 10,949Rs. 28,404Rs. 10,33,603
 SepRs. 17,637Rs. 10,767Rs. 28,404Rs. 10,15,966
 OctRs. 17,821Rs. 10,583Rs. 28,404Rs. 9,98,145
 NovRs. 18,007Rs. 10,397Rs. 28,404Rs. 9,80,138
 DecRs. 18,194Rs. 10,210Rs. 28,404Rs. 9,61,944
20422042Rs. 2,33,693Rs. 1,07,155Rs. 3,40,848Rs. 7,28,251
 JanRs. 18,384Rs. 10,020Rs. 28,404Rs. 9,43,560
 FebRs. 18,575Rs. 9,829Rs. 28,404Rs. 9,24,985
 MarRs. 18,769Rs. 9,635Rs. 28,404Rs. 9,06,216
 AprRs. 18,964Rs. 9,440Rs. 28,404Rs. 8,87,252
 MayRs. 19,162Rs. 9,242Rs. 28,404Rs. 8,68,090
 JunRs. 19,361Rs. 9,043Rs. 28,404Rs. 8,48,729
 JulRs. 19,563Rs. 8,841Rs. 28,404Rs. 8,29,166
 AugRs. 19,767Rs. 8,637Rs. 28,404Rs. 8,09,399
 SepRs. 19,973Rs. 8,431Rs. 28,404Rs. 7,89,426
 OctRs. 20,181Rs. 8,223Rs. 28,404Rs. 7,69,245
 NovRs. 20,391Rs. 8,013Rs. 28,404Rs. 7,48,854
 DecRs. 20,603Rs. 7,801Rs. 28,404Rs. 7,28,251
20432043Rs. 2,64,637Rs. 76,211Rs. 3,40,848Rs. 4,63,614
 JanRs. 20,818Rs. 7,586Rs. 28,404Rs. 7,07,433
 FebRs. 21,035Rs. 7,369Rs. 28,404Rs. 6,86,398
 MarRs. 21,254Rs. 7,150Rs. 28,404Rs. 6,65,144
 AprRs. 21,475Rs. 6,929Rs. 28,404Rs. 6,43,669
 MayRs. 21,699Rs. 6,705Rs. 28,404Rs. 6,21,970
 JunRs. 21,925Rs. 6,479Rs. 28,404Rs. 6,00,045
 JulRs. 22,154Rs. 6,250Rs. 28,404Rs. 5,77,891
 AugRs. 22,384Rs. 6,020Rs. 28,404Rs. 5,55,507
 SepRs. 22,617Rs. 5,787Rs. 28,404Rs. 5,32,890
 OctRs. 22,853Rs. 5,551Rs. 28,404Rs. 5,10,037
 NovRs. 23,091Rs. 5,313Rs. 28,404Rs. 4,86,946
 DecRs. 23,332Rs. 5,072Rs. 28,404Rs. 4,63,614
20442044Rs. 2,99,678Rs. 41,170Rs. 3,40,848Rs. 1,63,936
 JanRs. 23,575Rs. 4,829Rs. 28,404Rs. 4,40,039
 FebRs. 23,820Rs. 4,584Rs. 28,404Rs. 4,16,219
 MarRs. 24,068Rs. 4,336Rs. 28,404Rs. 3,92,151
 AprRs. 24,319Rs. 4,085Rs. 28,404Rs. 3,67,832
 MayRs. 24,572Rs. 3,832Rs. 28,404Rs. 3,43,260
 JunRs. 24,828Rs. 3,576Rs. 28,404Rs. 3,18,432
 JulRs. 25,087Rs. 3,317Rs. 28,404Rs. 2,93,345
 AugRs. 25,348Rs. 3,056Rs. 28,404Rs. 2,67,997
 SepRs. 25,612Rs. 2,792Rs. 28,404Rs. 2,42,385
 OctRs. 25,879Rs. 2,525Rs. 28,404Rs. 2,16,506
 NovRs. 26,149Rs. 2,255Rs. 28,404Rs. 1,90,357
 DecRs. 26,421Rs. 1,983Rs. 28,404Rs. 1,63,936
20452045Rs. 1,64,406Rs. 6,018Rs. 1,70,424Rs. 0
 JanRs. 26,696Rs. 1,708Rs. 28,404Rs. 1,37,240
 FebRs. 26,974Rs. 1,430Rs. 28,404Rs. 1,10,266
 MarRs. 27,255Rs. 1,149Rs. 28,404Rs. 83,011
 AprRs. 27,539Rs. 865Rs. 28,404Rs. 55,472
 MayRs. 27,826Rs. 578Rs. 28,404Rs. 27,646
 JunRs. 28,116Rs. 288Rs. 28,404Rs. 0

What is EMI?

Equated Monthly Installment – EMI for short – is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be repaid monthly. The interest component of the EMI would be larger in the initial months and gradually reduce when compared to the principal amount. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.

Here's the formula to calculate EMI:

EMI Formula

where

E is EMI

P is Principal Loan Amount

r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)

n is loan term / tenure / duration in number of months

For example, if you borrow RS. 10,00,000 from the bank at 10.5% annual interest for a period of 10 years (i.e., 120 months), then EMI = RS. 10,00,000 * 0.00875 * (1 + 0.00875)120 / ((1 + 0.00875)120 – 1) = RS. 13,493. i.e., you will have to pay RS. 13,493 for 120 months to repay the entire loan amount. The total amount payable will be RS. 13,493 * 120 = RS. 16,19,220 that includes RS. 6,19,220 as interest toward the loan.

Computing EMI for different combinations of principal loan amount, interest rates and loan term using the above EMI formula by hand is time consuming, complex and error prone. Our EMI calculator automates this calculation for you and gives you the result in a split second along with visual charts displaying payment schedule and the break-up of total payment.

How to use EMI calculator?

With colourful charts and instant results, our EMI calculator is easy to use, intuitive to understand and is quick to perform. You can calculate EMI for home loan, car loan, personal loan, education loan or any other fully amortizing loan using this calculator.

Enter the following information in the EMI calculator:

  • Principal loan amount you wish to avail (rupees)

  • Loan term (months or years)

  • Rate of interest (percentage)

  • EMI in advance OR EMI in arrears (for car loan only)

Use the slider to adjust the values in the EMI calculator form. If you need to enter more precise values, you can type the values directly in the relevant boxes provided above. As soon as the values are changed using the slider (or hit the 'tab' key after entering the values directly in the input fields), EMI calculator will re-calculate your monthly payment (EMI) amount.

A pie chart depicting the break-up of total payment (i.e., total principal vs. total interest payable) is also displayed. It displays the percentage of total interest versus principal amount in the sum total of all payments made against the loan. The payment schedule table showing payments made every month / year for the entire loan duration is displayed along with a chart showing interest and principal components paid each year. A portion of each payment is for the interest while the remaining amount is applied towards the principal balance. During initial loan period, a large portion of each payment is devoted to interest. With passage of time, larger portions pay down the principal. The payment schedule also shows the intermediate outstanding balance for each year which will be carried over to the next year.

Floating Rate EMI Calculation

We suggest that you calculate floating / variable rate EMI by taking into consideration two opposite scenarios, i.e., optimistic (deflationary) and pessimistic (inflationary) scenario. Loan amount and loan tenure, two components required to calculate the EMI are under your control; i.e., you are going to decide how much loan you have to borrow and how long your loan tenure should be. But interest rate is decided by the banks & HFCs based on rates and policies set by RBI. As a borrower, you should consider the two extreme possibilities of increase and decrease in the rate of interest and calculate how much would be your EMI under these two conditions. Such calculation will help you decide how much EMI is affordable, how long your loan tenure should be and how much you should borrow.

Optimistic (deflationary) scenario: Assume that the rate of interest comes down by 1% – 3% from the present rate. Consider this situation and calculate your EMI. In this situation, your EMI will come down or you may opt to shorten the loan tenure. Ex: If you avail home loan to purchase a house as an investment, then optimistic scenario enables you to compare this with other investment opportunities.

Pessimistic (inflationary) scenario: In the same way, assume that the rate of interest is hiked by 1% – 3%. Is it possible for you to continue to pay the EMI without much struggle? Even a 2% increase in rate of interest can result in significant rise in your monthly payment for the entire loan tenure.

Such calculation helps you to plan for such future possibilities. When you take a loan, you are making a financial commitment for next few months, years or decades. So consider the best as well as worst cases... and be ready for both. In short, hope for the best but be prepared for the worst!